Walker & Dunlop, Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $56.2M | $108.2M | $107.4M | $213.8M | $265.8M | $246.2M | $173.4M | $161.4M |
| Depreciation & Amortization | $238.7M | $237.5M | $226.8M | $235.0M | $210.3M | $169.0M | $152.5M | $142.1M |
| Depreciation | — | — | — | — | — | — | — | — |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $26.7M | $27.3M | $27.8M | $34.0M | $36.6M | $28.3M | $24.1M | $24.0M |
| Net Cash from Operating Activities | $-664.3M | $129.4M | $-518.0K | $1.58B | $870.5M | $-1.41B | $427.6M | $64.1M |
| Investing Activities | ||||||||
| Capital Expenditures | $15.8M | $13.0M | $16.2M | $22.0M | $9.2M | $3.0M | $4.7M | $4.7M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-77.3M | $-38.1M | $126.9M | $-133.8M | $-377.6M | $115.2M | $-79.7M | $-552.2M |
| Financing Activities | ||||||||
| Dividends Paid | $91.8M | $88.6M | $84.8M | $80.1M | $64.5M | $45.4M | $37.3M | $31.4M |
| Stock Repurchases | $10.5M | $12.4M | $20.5M | $42.4M | $18.9M | $45.8M | $30.7M | $68.8M |
| Net Cash from Financing Activities | $758.1M | $-154.7M | $6.8M | $-1.58B | $-457.7M | $1.52B | $-331.6M | $321.8M |
| Net Change in Cash | — | — | — | — | — | — | — | — |
| Free Cash Flow | $-680.1M | $116.4M | $-16.7M | $1.56B | $861.2M | $-1.41B | $422.9M | $59.4M |